ocean23
New Member

Is a home buyout between unmarried partners taxable?

I have owned a home for two years with my partner. I moved out and he is choosing to stay in the home. He will be refinancing to remove my name from the mortgage and my name will also be removed from the deed. He will be paying me the amount I contributed to the home's equity as a buyout. I know for married people divorcing, this transfer is not considered taxable. Is it taxable for unmarried individuals? Thank you.